Following complaints of procedural hassles, the Central Board of Indirect Taxes and Customs (CBIC) has extended the deadline for filing annual returns and audit forms, under the goods and services tax (GST) regime, by three months till March 31, 2019.

The CBIC also said these forms will be made available on the common GST portal soon.

Archit Gupta, chief executive officer of ClearTax, said: “Given that the filings for GSTR-9 online had not begun, an extension was required." Read more

India to retain top position in remittances with $80 bn: World Bank

India will retain its position as the world's top recipient of remittances this year with its diaspora sending a whopping $80 billion back home, the World Bank said in a report Saturday.

India is followed by China ($67 billion), Mexico and the Philippines ($34 billion each) and Egypt ($26 billion), according to the global lender.

With this, India has retained its top spot on remittances, according to the latest edition of the World Bank's Migration and Development Brief. Read more

AILAC group breaks developing country unity at Katowice climate talks

The 136 developing country group, G77+China, was forced to dilute its stance several times through the first week of the Katowice Climate Change talks, as the eight members of the Independent Association of Latin America and the Caribbean group (AILAC) broke ranks and blocked a stronger stance by the bloc on several critical issues.

Country groups work on consensus, and therefore the collective negotiating stance is drawn only after each sub-group agrees to the positions.